An altcoin in the Shiba Inu (SHIB) ecosystem is skyrocketing after its lead developer presented the first “truly decentralized exchange” ahead of the launch of Shibarium, the project’s highly anticipated upcoming layer-2 scaling solution.
In a new blog post, pseudonymous SHIB developer Shytoshi Kusama unveils “Shibapendence Day,” a celebration for the SHIB community to declare its freedom from centralization.
The project’s decentralized exchange (DEX), ShibaSwap, is gearing up to launch its second iteration, though no specific date has been given.
The declaration of Shibapendence Day sent Bone ShibaSwap (BONE), the governance token of the DEX, surging.
The dog-themed crypto asset went from a low of $0.90 on July 1st to a peak of $1.44 on July 8th, a 60% increase.
According to Kusama, centralized entities have plundered the Earth, offering nothing in return and paving the way for a decentralized future.
“For hundreds of years, humanity has been subject to the concept of ‘centralization,’ a hierarchical system of authority which steals power from the majority and distributes it to the controlling entities of our world.
These centralized forces have managed to erode the fabric of the human spirit and pillage the planet, giving nothing in return to the billions of lives which depend on their benevolence…
With the imminent release of ShibaSwap, we are proud to lead the charge towards the dawning of a new era by presenting the first truly decentralized exchange and declaring our Shibapendence!
This is just the first project of many to be championed by the decentralized groups which believe in the Shiba ethos and share our vision of freedom within a decentralized future.”
BONE has since retraced and is trading for $1.34 at time of writing.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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